As a result, no commodity has performed worse this year — not
even gold. Here's the chart from Oppenheimer's John Stoltzfus of
YTD performance: corn is down -33%.

Reuters/Jefferies/Bloomberg/Oppenheimer

Corn prices are now at three-year lows, trading around $4.63/bu.

This time last year, they were around $8 per bushel.

Here's the chart:

Investing.com

The USDA will release its world agricultural supply and demand
(WASDE) estimate at noon, and it's expected to add to bearish
sentiment. Morgan Stanley's Bennett Maier says he projects a
stocks print of 1.9 billion bushels, compared with 704 million
during the same time last year.